As India’s festive season kicks off, e-commerce giants like Amazon and Flipkart have launched their highly anticipated sales. With a surge in demand and premiumisation trends, online shopping sales are projected to reach ₹1.2 lakh crore in gross merchandise value (GMV) this year, representing a 20% year-on-year growth, according to a report by Redseer Strategy
Central and Eastern Europe (CEE), encompassing the six growing economies of Romania, Bulgaria, the Czech Republic, Hungary, Poland, and Slovakia, presents an increasingly promising environment for major international brands, including luxury, with significant potential for expansion and profit margins. According to Colliers’ recent report ‘Luxury Retail Brands in CEE’, most exclusive brands in the Romanian
Oreo is counting on limited-edition cookies like its Coca-Cola flavour to drive new customers to the snack aisle. Oreo sees limited-edition products as a way to expand beyond its usual customer base. In fact, 28% of people who buy limited-edition Oreos don’t buy regular Oreos, Rachel Lawson, director of shopper marketing at Mondelēz International, Oreo’s
Elliott Hill, a seasoned Nike veteran, is stepping back into the spotlight as the company’s new CEO, effective October 14. Hill, who began his journey at Nike as an intern in 1988, has held 19 different roles throughout his impressive career, culminating in his position as President of Consumer and Marketplace before his retirement in
The leading off-price retailer, Brands For Less, celebrated the opening of its first store in Singapore, marking its official entry into the South East Asian market. This significant milestone took place at Jurong Point Mall and was attended by VIP guests, including the UAE Ambassador in Singapore, His Excellency Jamal Abdulla AlSuwaidi. The Singapore store
India’s diamond industry is amid a severe crisis, marked by declining imports and exports, factory closures, and massive job losses. According to the Global Trade Research Initiative (GTRI), the sector’s downturn has worsened over the past three years due to global economic uncertainty, competition from lab-grown diamonds, and rising operational costs. Ajay Srivastava, Founder of
India’s leading food delivery platform, Swiggy, is gearing up for its much-anticipated IPO, potentially raising over USD 1 billion. Reports suggest that the Bengaluru-based company is set to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) soon, with the IPO expected to launch in the coming weeks.
Japanese household spending rose less than expected in July as consumers remained wary of loosening their purse strings in the face of higher prices, possibly complicating the Bank of Japan (BOJ)’s plans to hike interest rates further in coming months. Consumer spending edged up 0.1% in July year-on-year, compared with the median market forecast for
In response to China’s ongoing consumption slowdown, fast-food giants KFC, McDonald’s, and Haidilao are strategically shifting towards smaller store formats. These companies are innovating by introducing kiosks, food stalls, and mini stores across China, aiming to capture consumer dollars in a challenging economic environment. Tommy Zhang, a medical researcher in Shenzhen, frequently passes by a
The US retail giant Walmart has sold its entire $3.7 billion stake in Chinese e-commerce company JD.com, marking the end of an eight-year investment with diminishing returns. The decision comes as Walmart seeks to intensify its focus on its operations in China, particularly through its Walmart China and Sam’s Club businesses. The sale was fully
